Ford Doubles Electric F-150 Production Target, Citing High Demand: Report
Months after U.S. President Joe Biden test drove the Ford F-150 Lightning, the company has increased its production outlook, due to a high volume of reservations for customers.
Ford has reportedly doubled its production target for the F-150 Lightning electric pickup truck from 40,000 to 80,000 by 2024, because of a strong demand ahead of its 2022 release, according to unnamed sources speaking to Reuters.
The company also plans to spend an additional $850 million to meet the target, according to a number of people and suppliers familiar with the matter.
Referring to Ford’s officials, one of the sources said, “They were pleasantly surprised by the demand for the Lightning.”
In a previous statement, Ford said it had 120,000 reservations for the F-150 Lightning.
Tesla Cybertruck vs. Ford F-150 Lightning; Plus F-150 Impressions [VIDEO] https://t.co/jPbUJzLS45
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As the F-150 Lightning comes closer to becoming a reality, many analysts question whether current F-150 owners would replace their trucks with electric versions. Still, commercial owners looking to reduce their company’s carbon footprint are likely to be big buyers of the F-150 Lightning.
Ford plans to increase its production volume each year, with plans for about 15,000 next year, followed by 55,000 in 2023, and eventually jumping to 160,000 following the company’s launch of the second-generation F-150 Lightning in 2025.
The Ford F-150 Lightning comes with a starting price of $39,974 USD, and the company has also made a commercial version available, called the F-150 Lightning Pro.